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Global Debt as a Share of Economic Output
September 27 , 2023
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- The International Monetary Fund said that the global debt as a share of economic output fell significantly in 2022 for the second year in a row.
- The world's total debt to-GDP ratio fell last year to 238% from 248% in 2021 and 258% in 2020.
- However, despite the decline over the past two years, global debt remains well above the 2019 level of 238% of GDP.
- China has been a major contributor to the increase in global debt in recent years, with its debt burden growing to 272% of GDP in 2022.
- The United States saw its total debt-to-GDP ratio fall to 274% in 2022 from 284% in 2021.
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